Legat Owen has advised on deals that have seen the sale of Unit 1-2 St Ives Way in Sandycroft to Hollins Murray Group (HMG), and the combined 9,910 sq ft space pre-let to DX Delivery.
The property consultancy, working jointly with Gerald Eve, acted for ATS on the disposal of the unit and subsequently retained to let the premises which are being substantially refurbished, with completion expected this month.
Demand for the property was described as strong, with the sale proceeding to a competitive best-bids scenario.
Legat Owen then advised incoming owner HMG on pre-letting the unit to courier business DX Delivery, which is expanding in the area.
DX Delivery has agreed terms on a ten-year lease at a rent of £70,000pa, to be concluded once HMG has completed works and handed over the building for occupation.
Rupert Chadwick-Dunbar, surveyor at Legat Owen, commented:
The appeal of Sandycroft as a location was highlighted by the strength of interest in acquiring the property as an investment; and then further confirmed by the space being snapped up by an ambitious courier business which recognises the benefits of its strategic location and multiple access points to the regions road network.
St Ives Way is situated off Factory Road in the well-established Sandycroft area, around six miles to the west of Chester.
Josh Moores commented
Sandycroft is a location we’re familiar with and one we believe has an enduring appeal to industrial and logistics businesses. St Ives Way will be a valued addition to our portfolio once we’ve completed our scheduled works and handed over to DX.
